IMF Staff Country Reports

Uzbekistan: Background Paper and Statistical Appendix

Publication Date:

March 14, 1995

Summary:

This Background Paper and Statistical Appendix highlights that starting in 1994, financial policies in Uzbekistan were tightened so as to reduce inflation and stabilize the exchange rate in anticipation of the introduction of the new national currency, the sum. The Central Bank of Uzbekistan raised the interest rate on its rediscount credits several times and credit to loss-making state enterprises was curtailed. The average monthly rate of price increase fell from more than 22 percent in the first half of the year to less than 2 percent in the third quarter, partly in reflection of seasonal factors.

Series:

Country Report No. 1995/023

Subject:

Agricultural commodities Commodities Credit Currencies Exchange rates Exports Foreign exchange International trade Money

Notes:

This background paper and statistical appendix on the Republic of Uzbekistan were prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with this member country. In releasing this document for public use, confidential material may have been removed at the request of the member.